Bentley Systems, Incorporated $BSY Stock Holdings Lowered by Walleye Trading LLC

Key Points

• Walleye Trading LLC significantly reduced its holdings in Bentley Systems by 60.1%, owning only 9,558 shares after selling 14,393 shares in the first quarter.
• Bentley Systems' stock has shown solid performance with shares recently priced at $55.65, and the company's market capitalization stands at $16.25 billion.
• Multiple analysts have adjusted their ratings on Bentley Systems, with the average target price now around $56.60 and a majority rating it as a "Moderate Buy."

Walleye Trading LLC reduced its holdings in Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 60.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,558 shares of the company's stock after selling 14,393 shares during the quarter. Walleye Trading LLC's holdings in Bentley Systems were worth $376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. City Holding Co. bought a new stake in shares of Bentley Systems in the 1st quarter worth approximately $26,000. Larson Financial Group LLC raised its holdings in shares of Bentley Systems by 1,707.1% during the first quarter. Larson Financial Group LLC now owns 759 shares of the company's stock valued at $30,000 after acquiring an additional 717 shares during the period. Fifth Third Bancorp raised its holdings in shares of Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company's stock valued at $33,000 after acquiring an additional 435 shares during the period. HM Payson & Co. acquired a new stake in shares of Bentley Systems during the first quarter valued at approximately $45,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bentley Systems by 99.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock valued at $56,000 after acquiring an additional 706 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Stock Performance

Shares of BSY opened at $55.65 on Friday. The company's 50 day moving average price is $55.37 and its 200 day moving average price is $48.42. Bentley Systems, Incorporated has a 52 week low of $36.51 and a 52 week high of $59.25. The company has a market capitalization of $16.25 billion, a PE ratio of 70.44, a PEG ratio of 4.49 and a beta of 1.10. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The firm had revenue of $364.11 million for the quarter, compared to the consensus estimate of $363.51 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The firm's revenue was up 10.2% on a year-over-year basis. Research analysts expect that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 16th. Royal Bank Of Canada boosted their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Oppenheimer boosted their price target on shares of Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Rosenblatt Securities lowered shares of Bentley Systems from a "buy" rating to a "neutral" rating and boosted their price target for the company from $53.00 to $58.00 in a report on Thursday, August 7th. Finally, Piper Sandler boosted their price target on shares of Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Bentley Systems has an average rating of "Moderate Buy" and an average price target of $56.60.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 150,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the completion of the sale, the director directly owned 3,859,327 shares of the company's stock, valued at $214,347,021.58. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the completion of the sale, the insider directly owned 647,609 shares of the company's stock, valued at $36,887,808.64. This represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,189,869 shares of company stock valued at $60,880,388 over the last ninety days. Corporate insiders own 20.56% of the company's stock.

Bentley Systems Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.

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